Albemarle net income falls 14% on pricing and volume declines

3:35 PM MDT | October 17, 2012 | Vincent Valk

Albemarle’s third-quarter net income fell 14% year-on-year, to $99.3 million, on sales down 8.5% to $661.2 million. Earnings totaled $1.10/share, beating analysts’ consensus of $1.08/share, as reported by Thomson Reuters (New York). The outlook for the coming quarter is hazy, the company says. Albemarle “expects market and economic conditions to remain unstable for the foreseeable future.” While the company expects to grow in 2013, “I expect the fourth-quarter will be even more difficult than the third,” says CEO Luke...